The fall 2018 auction season has been a blockbuster, as this week’s watch and jewelry sales in Geneva show.

Phillips, in Association with Bacs & Russo, reinforced its dominance with its Geneva Watch Auction: EIGHT, held Nov. 10-11 at Hotel La Reserve. With 222 lots and record participation of 1,000 bidders from 60 countries across all platforms, the sale garnered just above US$21.25 million. (Except for estimates, all prices quoted include buyer’s premiums.)

The top lot was 78A, an exceedingly rare 1994 Patek Philippe reference 3974 with a minute repeater, perpetual calendar, and moon phases. It is one of only eight known examples of the reference in platinum, and it sold for US$1,027,234.

It was no surprise that Rolex also flexed its auction muscles with a new world record for a Rolex reference 6236 Dato-Compax Chronograph with a triple-date calendar. The model is nicknamed “Jean-Claude Killy” after the champion French skier who was an ambassador for the brand in the 1960s. The remarkably well-preserved steel “Killy” (lot 42) sold for US$698,917.

Another extremely rare and historically important Rolex Sea-Dweller reference 1665 “Single Red” prototype in stainless steel without a helium valve went for US$704,886, setting a new world record for Sea-Dweller.

Other highlights include an Omega Speedmaster Alaska I (lot 36), which sold for US$192,716, and an Audemars Piguet reference 1533 chronograph (lot 101), which went for US$382,539, both tripling their highest estimates.

Independent watchmakers also achieved noteworthy results, with a F.P. Journe Tourbillon Souverain (lot 14), selling for US$466,110, more than double its high estimate.

Meanwhile, Sotheby’s Geneva saw its second highest total in a decade with the Important Watches sale reaching US$12.1 million. The house reports that more than 900 bidders from 54 countries participated, with nearly a quarter of sales made online.

The star of that show was lot 220, The Asprey, an extraordinary and possibly unique co-branded 1952 Patek Philippe yellow gold reference 2499 perpetual calendar chronograph that sold for US$3,879,834, making it the most valuable wristwatch ever sold at Sotheby’s.

An exceptionally rare Serpico y Laino reference 2499 sold for US$3.2 million, well over its high estimate of US$2.5 million.
Christie's

Six bidders vied for this outstanding piece, which was originally sold by the premier London jeweler Asprey in 1956. Further enhancing its value is an unusual dial signed by both Patek and Asprey, plus additional Asprey and London hallmarks stamped into the case. Until now the watch has remained in a private collection since it was last acquired at auction in 2006.

“This watch is the ultimate 2499: enormously rare, absolutely pristine—a dream for watch lovers,” says Sam Hines, global head of Sotheby’s Watches in a news release. He also pointed out that 2018 has yielded some of the house’s strongest results in years.

Sotheby’s held three watch and jewelry sales in Geneva this week: Important Watches, Royal Jewels from the Bourbon Parma Family, and Magnificent Jewels & Noble Jewels tallying a grand total of $125.1 million in sales, an increase of 37%over last November. These results include the record-breaking sale of Queen Marie Antoinette’s Pearl, which went for an astonishing US$36.2 million, tripling the previous auction record for a natural pearl.

An outrageous jewel also made jaws drop at Christie’s Magnificent Jewels Sale at Geneva’s Four Seasons Hotel des Bergues, where Harry Winston, owned by The Swatch Group, paid US$50.37 million to acquire The Winston Pink Legacy diamond. The exceptional fancy vivid pink diamond weighing 18.96 carats previously belonged to the Oppenheimer family. At US$2.65 million per carat, the stone set a world auction record for price per carat for a pink diamond.

Meanwhile, at the house’s Rare Watches sale on Nov. 12, Patek Philippe, as expected, delivered a seven-figure result with the sale of an exceptionally rare Serpico y Laino reference 2499, which sold for US$3.2 million, well over its high estimate of US$2.5 million and the highest price paid for a watch at Christie’s Geneva this year. The co-branded piece with Patek’s Venezuelan dealer benefited from its superb original condition, and the fact that it is the only known Ref. 2499 ever sold by Serpico y Laino.

Rolex also made a strong showing, beating high estimates with a stainless steel Paul Newman “Panda” reference 6263 with Mk I dial, which sold for US$418,225, and a stainless steel chronograph with Paul Newman dial reference 6239 going for US$334,680.

“This auction was incredible not only for the monumental discovery and sale of the Serpico & Laino First Series 2499 but for the wide variety of offerings of high quality vintage and modern watches from multiple brands,” said John Reardon, Christie’s international head of watches, in a news release.

Next up on the calendar for Christie’s is a Rare Watches sale in Hong Kong on Nov. 26.

Sotheby’s will host its first sale in Dubai on Nov. 19 followed by an Important Watches sale on Dec. 5 at Sotheby’s New York.

Also on Dec. 5, Phillips is hosting its second New York auction titled STYLED. Timeless Watches & How to Wear Them, a collaborative effort with the exclusive fashion website Mr. Porter and The Rake magazine. These partners created tailored ensembles for 12 occasions in a gentleman’s life that are paired with vintage and modern watches from Patek Philippe, Rolex, Vacheron Constantin, Audemars Piguet, Cartier, Omega, IWC, and Jaeger-LeCoultre.

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